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Email this7:19 am
July 22, 2022
Offline
So I was successfully able to link my HSBC account to my Tangerine account but was not able to pull funds, the transfer failed
HSBC informed me (both via call as well as chat) that they do not support this facility
I've read on this forum that people are able to do it but has anyone recently pulled funds into their Tangerine account from HSBC ?
8:43 am
April 6, 2013
Offline
Does your HSBC account accept electronic pre-authorized debits?
I think the HSBC agent misunderstood your question. The agent thought you were asking if HSBC had an option to link to other financial institutions!
The push/pull terms we use here are not standard and not understood by bank staff. Bank staff will understand better if they are asked about electronic direct deposits and pre-authorized debits.
Tangerine should be able to pull from any account that accepts pre-authorized debits and push to any account that accepts direct deposits.
It would be helpful to find out from Tangerine why the pull failed. There will be one of the return reason codes listed on page 10 of Payments Canada Standard 007. Could be something like NSF (not sufficient funds), INA (invalid account number), NCP (pre-authorized debit not allowed), or FNC (funds not cleared).
6:04 pm
April 27, 2017
Online
I have done this operation numerous times. Usually its fast. Last EFT dates back to June 27th. No issues,
12:41 pm
December 12, 2009
Offline
HSBC Bank Canada used to support bank-to-bank transfers, but they dropped that feature a few years ago at the same time as they rolled out Interac e-Transfer functionality. This means that will only be able to pull money from HSBC to your other financial institution from your other financial institution's online banking platform or, conversely, to push money to HSBC from your other financial institution using your other financial institution's online banking interface. 🙂
Note: HSBC Bank Canada is not alone alone in this regard. Coast Capital Savings Federal Credit Union does not offer electronic bank-to-bank transfers. 🙁
Cheers,
Doug
12:43 pm
December 12, 2009
Offline
Norman1 said
Does your HSBC account accept electronic pre-authorized debits?I think the HSBC agent misunderstood your question. The agent thought you were asking if HSBC had an option to link to other financial institutions!
The push/pull terms we use here are not standard and not understood by bank staff. Bank staff will understand better if they are asked about electronic direct deposits and pre-authorized debits.
Tangerine should be able to pull from any account that accepts pre-authorized debits and push to any account that accepts direct deposits.
It would be helpful to find out from Tangerine why the pull failed. There will be one of the return reason codes listed on page 10 of Payments Canada Standard 007. Could be something like NSF (not sufficient funds), INA (invalid account number), NCP (pre-authorized debit not allowed), or FNC (funds not cleared).
I re-read the OP's question. They were looking to set up their other FI accounts within HSBC's online banking platform. HSBC does not offer this.
Cheers,
Doug
3:00 pm
July 22, 2022
Offline
Thank you all for the reply.
People who said the agent misunderstood my query were right !
So what had happened is, when I was setting up the external account, I was keying in the wrong account no. (was prefixing the account no. with the transit code).
But strangely, the two credits which are usually sent by Tangerine to the account you are trying to link did reflect in my HSBC account which I keyed in in the Tangerine app and it said the account has successfully being linked !
The Tangerine customer rep told me over the phone that although it is showing as successfully linked, the most likely reason for the transfer failing is an incorrect account no.
So anyway, I went through the process of linking the account again and this time entered the account no. without the transit code and it all worked fine
Thank you all for your help !
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